stock market today After heavy selling in Paytm shares, recently listed stocks like Policybazaar (PB Fintech Shares), Nykaa and Zomato are also witnessing heavy fall today. Continuing its decline on the second day of its listing, Paytm shares slipped further and fell as much as 40 per cent below its upper price band. 2150. Zomato share price fell close to 7 per cent today, Policybazaar or PB Fintech shares surged south to 8 per cent, while Nykaa share price fell nearly 1 per cent in intraday trade session.
According to market experts, these recently listed stocks are declining due to negative sentiment in the Indian stock market. He advised the market investors to primarily buy on dips strategy and hold these stocks for a time period of 3-6 months.
Advising stock market investors to buy on downside; Ravi Singhal, Vice Chairman, GCL Securities said, “The share prices of Zomato and PB Fintech are falling due to negative sentiments on Dalal Street. But, one can buy Zomato and PB Fintech shares on the downside, while I advise investors Would suggest they avoid taking any fresh. The position in Paytm and Nykaa as their market cap does not look realistic. Anyone can buy Zomato shares from 115 125 range for 2-3 months . the goal of maintain stop loss at 165 97 per share level. Similarly, one can share PB Fintech 1080 target for 6 months from 1320 maintain stop loss at 1440 1020 levels.”
Advise investors to avoid any fresh positions in Zomato shares at current levels; Sumeet Bagadiya, Executive Director, Choice Broking said, “Zomato shares are looking weak on the charts and if it goes down, it may give fresh breakdown. 125 per share level. Feather 125 breakdown on closing basis, it may go up 115 per share level. Therefore, those who have this share in their portfolio are advised to exit on any upside and take fresh positions when the market stabilizes.” He advised the shareholders of PB Fintech and other recently listed stocks That they follow the same strategy till the weak market sentiment continues.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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